Financial statement of the Arizona Canal Co. : a corporation organized and existing under and by virtue of the laws of the Territory of Arizona

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BANCROFT
LIBRARY

THE LIBRARY

OF

THE UNIVERSITY

OF CALIFORNIA

jitized by the Internet Archive
in 2007 with funding from
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tp://www.archive.org/details/financialstatemeOOarizrich

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FEBRUilRY 1st, IBBB.

FIMAMCIA^ STATEMEKT

OF^

7

Fs. Carparatian arganized and existing under and by virtue
of the laTA/s nf the Territory nf Arizona,

IflCOf^POt^flTED, DEC. 22, 1882.

Capital stock, 1,000 Shares, of the par
value $500 each, $500,000.

Principal Office: PHOENIX, A. T.

Property located in the Salt River Valley^
Maricoini County^ A rizona.

DFFICERS.

President, - - W. J. Murphy, Phoenix, A. T.

Secretary, - - W. D. Fulwiler, Phoenix, A. T.

Treasurer, - - The Yalley Bank, Phoenix, A. T.

DIRECTDRS.

Andrew Crawford, Oljicago, 111.
J. De Earth Shore, San Gabriel, Oa!.
Wm. Chhisty, Phoenix, A. T.
Clark Churchill, Phoenix, A. T.
W. J. Murphy, Phoenix, A. T.

FURPDSES DF THE GDMFANY,

To secure title to water, to construct and operate canals,
for the purpose of furnishing water for irrigation, water power
and city sui)ply. To secure and sell land for town sites and
mill sites and otln-r purposes.

The Arizona Canal is a fine specimen of engineering skill
and very substantially constructed. !t furnishes water to irri-
gate 96,000 acres of land, besides city supply and an extensive
water power.

The soil irrigated by it is of the finest quality for fruit-
groA'ing. It [)roduces the olive, fig, pomegranate, raisin, orange,
lemon and other tropical fruits, equal to the most favored local-
ities of Spain.

The climate of the Salt River Valley is semi-tropical, and
as bright, beautiful and healthy as sunny Italy itself.

ASSETS.

Franchise Lo 50,000 miner's inclies of water in Salt Rivtr-r,
secured by location under the general laws of the United
States, in eonfonnity with the laws of Arizona.

Right of way secured from the General Government,
under law of Congress.

Town sites and mill sites and water power, equal to 1,500
horse-power.

Main Canal. 40| miles long, maximum width, 57 ft., and
carrying depth 7^ ft.; capacity, 40,000 miner's inches. Con-
struction commenced in 1883, and fully completed in 1887,
at a cost of 8603,013 96.

Estimated Value of Assets $2,000,000 00

E&TiMATED Income :

From Sales of water rights, mill sites, etc $1,250,000 00

From Rentals of water and water [)ower, per

annum 175,000 00

Market value of a water right, Feb. 1st, 1886 . . .$ 500 00
Market value of a water right, Feb. 1st, 1888. . . 1,000 00

Bonds cancelled since Feb. 1st, 188b. . $ 100,000 00

The proceeds of sales of water rights go to form a Sinking
Fund, for the payment of the principal and interest of the
Bonds.

The Merchants Loan and Trust Co., of Chicago, Illinois,
is the Trustee for the bond-holders.

IMMEDIATE RESOURCES.

In addition to income from rental of water for irrigation and
water power.

715i water rights, market value, $l,()uO $715,500 CO

Bills Receivable 3,342 50

Accounts Receivable 37,338 25

Cash in Treasurv • 13,61 1 49

Total $769,792 24

TOTSL LISBILITIES.

Bonds due Jan. Isi, 1900 $400,000 00

Interest on above, not due 2,666 66

Bills Payable, not due 47,400 00

Interest on above, nut due 988 67

Accounts Payable 10,380 88

Total $461,436 21

INCOME AND EXPENDITURES.

For the Last Fiscal Year.
INCO^/IK from all sources $112,698 43

EXF*ENDITURES:

Interest on Bonds $32,000 GO

Interest on Bills Payable 4,000 00

Accounts and Bills Payable 20,579 84

Permanent Improvements. , 23,933 32

Current Expenses 18,573 78

99,086 94

Cash on hand $ 13,611 49

W. J. MURPHY, President.

THE VALLEY BANK, Tkeas.,

By Wm. Christy, Cashier.

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